Questcor Provides Updated New Paid Prescription Trends
ANAHEIM, Calif., Sept. 10, 2011 /PRNewswire/ -- Commencing on September 12, 2011, Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR ) will utilize an updated presentation for meetings with investors. This presentation was filed under Form 8-K with the SEC on Friday, September 9 at 3 p.m. PST and will be posted on the SEC's website prior to market open on Monday, September 12. The presentation includes an update regarding prescription trends for the Company's primary product, H.P. Acthar Gel (repository corticotropin injection) through the end of August 2011 as follows:
- For acute exacerbations of multiple sclerosis (MS), the run-rate of new, paid prescriptions for the quarter ending September 30, 2011, based on the first two months of the quarter, is approximately 10% higher than the number of new, paid prescriptions in the quarter ended June 30, 2011.
- For each of nephrotic syndrome (NS) and infantile spasms (IS), the run-rate of new, paid prescriptions for the quarter ending September 30, 2011, based on the first two months for the quarter is approximately equal to the number of new, paid prescriptions in the quarter ended June 30, 2011.
The Company has calculated "run-rate" for the quarter ending September 30, 2011 by taking its preliminary results for the first two months of the quarter and multiplying that amount by 1.5.
The Company is also disclosing the following unaudited balance sheet information as of September 6, 2011:
- Cash, cash equivalents and short-term investments: $170 million.
- Accounts receivable: $19 million.
Questcor expects to post the updated presentation on its website prior to Monday, September 12.
Important Information Regarding Prescriptions and Net Sales
Net sales of Acthar are derived from our sales of vials to CuraScript SD, which in turn sells Acthar primarily to specialty pharm